Cutera Reports Inducement Grants as permitted by the Nasdaq Listing Rules
September 01 2023 - 6:30PM
Business Wire
Cutera, Inc. (Nasdaq: CUTR) (“Cutera” or the “Company”), a
leading provider of aesthetic and dermatology solutions, today
announced that on August 17,2023 the Compensation Committee of
Cutera’s Board of Directors approved the grant of inducement awards
to Jeffrey Jones, who joined Cutera on August 28, 2023, as the
Chief Operating Officer. The inducement awards consisted of stock
options to purchase 31,256 of common stock, restricted stock units
(RSUs) settleable in 12,306 shares of common stock, and performance
stock units (PSUs) settleable in 24,612 shares of common stock.
The stock options were granted on August 28, 2023, and have an
exercise price of $9.61 per share, which is equal to the closing
price of a share of Cutera common stock on the grant date. A
quantity of 25% shall vest on August 28, 2024, and 1/48 of the RSUs
shall vest each month thereafter, subject to Mr. Jones continuing
as an employee.
The RSUs were granted on August 28, 2023. A quantity of 25%
shall vest on August 28, 2024, and 1/12 of the RSUs shall vest each
quarter thereafter, subject to Mr. Jones continuing as an
employee.
The PSUs were granted on August 28, 2023. The performance-based
vesting schedule and targets will be determined by Cutera’s Board
of Directors or Compensation Committee.
Each inducement award is subject to the terms of the Cutera,
Inc. 2023 Inducement Equity Incentive Plan and related forms of
agreements and were granted as inducements material to these
employees to enter into employment with Cutera in accordance with
Nasdaq Listing Rule 5635(c)(4).
About Cutera, Inc.
Brisbane, California-based Cutera is a leading provider of
aesthetic and dermatology solutions for practitioners worldwide.
Since 1998, Cutera has been developing innovative, easy-to-use
products that harness the power of science and nature to enable
medical practitioners to offer safe and effective treatments to
their patients. For more information, call +1-415-657-5500 or
1-888-4CUTERA or visit www.cutera.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230901645993/en/
Greg Barker VP, Corporate FP&A and Investor Relations
415-657-5500 IR@cutera.com
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